Investing.com - Crude oil prices fell in early Asian trade on Monday as the market digested a limited deal between Western power and Iran over the scope of Tehran's nuclear program and how it may affect supply and demand in the near term. Prospects for Iran to eventually come back onto the oil market sent New York Mercantile Exchange light, sweet crude futures for January delivery to USD94.07, down 0.80%, in early Asian trade. Markets were still digesting a deal reached at the weekend that relaxes economic sanctions for the next six months in hopes Western powers can reach a broader agreement on nuclear-arms talks. But the deal doesn't directly ease restrictions on crude purchases by countries like the United States, though it makes the logistics a bit easier on sales and finance to countries that do buy Iranian crude. The agreement also will allow Iran to regain access to much-needed goods, including parts for aircraft and cars, and will allow the country to sell refined petrochemical products in global markets. For the week ahead, the U.S. is to release a series of reports on the housing sector, as well as data on consumer confidence and durable goods orders expected to set the tone for demand.

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